Ocean King, Silan Microelectronics, and Ming Microelectronics released their Q3 performance reports

Ocean King

In the third quarter, Ocean King's revenue was 411 million yuan, a year-on-year decrease of 21.74%; net profit attributable to shareholders was 18.1238 million yuan, a year-on-year decrease of 85.28%.

In the first three quarters, Ocean King achieved revenue of 1.211 billion yuan, a year-on-year (YoY) decrease of 11.56%; net profit attributable to the parent company was 88.1444 million yuan, a YoY decrease of 59.75%, mainly due to the impact of the pandemic, reduced income, and increased R&D investment.

Silan Microelectronics

In the third quarter, Silan Micro's revenue was 2.059 billion yuan, a year-on-year increase of 7.63%; net profit attributable to shareholders was 175 million yuan, a year-on-year decrease of 41.01%. In the first three quarters, Silan Micro achieved revenue of 6.244 billion yuan, a year-on-year increase of 19.58%; net profit attributable to shareholders was 774 million yuan, a year-on-year increase of 6.43%.

Silan Microelectronics stated that, driven by products such as IPM intelligent power modules, MEMS sensors, and PoE circuits, the company's revenue from circuit and device finished products maintained rapid growth in the third quarter. However, the company's revenue from device chips declined to a certain extent due to the slowdown in demand from downstream consumer electronics markets, causing the overall revenue growth rate of the company to slow down, with only a 7.63% increase compared to the same period last year.

Silan Mingxin's LED chip production line experienced a significant decline in capacity utilization and a substantial increase in unit production costs due to insufficient orders caused by the pandemic.

In addition, due to the downturn in the LED market, the loss of the associate company Silan Mingjia increased, resulting in a decrease of 18.2116 million yuan in investment income from associates compared to the same period last year.

Ming Microelectronics

Mingwei Microelectronics' Q3 revenue was 140 million yuan, a year-on-year (YoY) decrease of 69.04%. For the first three quarters, company revenue was 539 million yuan, a YoY decrease of 49.73%; net profit attributable to parent company shareholders was 58 million yuan, a YoY decrease of 90.33%.

Mingwei Electronics stated that due to macro factors such as the pandemic, global geopolitical instability, and inflation, consumer electronics market demand has been weak, leading to declines in both sales volume and unit price across all product lines.

It is reported that Ming Microelectronics is actively developing its Mini LED driver chip business, with products primarily targeting the direct display sector. Mini LED display driver chips generated revenue of 115 million yuan in the first half of the year, accounting for 28.9% of total revenue. Major customers include Qiangli Jucai, Unilumin, Leyard, and Lianjian Optoelectronics.